Practice and client management

Jeff Fielder will succeed longtime president and chief executive Cheryl DeBoer on Oct. 1.

Financial institutions have a solid track record of keeping customers for the long haul, but technology firms, fintechs and challenger banks are gaining ground on the incumbents.

More than 250 midsize and large companies that do business with BofA have signed up for its corporate employee banking and investing program, which pulls double duty as a retention tool for the companies and a customer-growth engine for the bank. The initiative is part of a wave of such offerings by regional and large banks.

Websites such as Credit Karma and LendingTree, which work closely with financial institutions, have had to rethink their strategies to bounce back from the pandemic.

The Chicago-based company, which is the league's exclusive credit card sponsor, sees soccer's young, diverse fan base as a fit for its below-prime products.

Chuck Albrecht announced his plans to step down in March of 2023, concluding a more than 20-year tenure as president and chief executive.

A vast majority of IT leaders at banks want to ditch passwords for something better and safer, and many tech vendors are moving in that direction already. But it's easier said than done.

Mark Burgess succeeded James Wileman as president and chief executive of the Anchorage-based credit union this month.

A warning for investment bankers who enjoyed lavish bonuses for 2021, when banks opened their wallets to reward busy dealmakers amid a war for talent: Don't expect a repeat this year.

Membership at the Virginia credit union has grown rapidly in recent years, including an 11% spurt in the first half of this year, thanks to a charter switch, heavy marketing spending and generous deposit rates.

Robinhood Markets cut almost a quarter of its workforce in a broad reorganization after a punishing first year as a public company.

The Massachusetts bank used data analytics to improve onboarding, cross-sell more effectively and prevent attrition.

Toronto-Dominion Bank agreed to buy the U.S. brokerage Cowen Inc. for $1.3 billion in cash, bulking up its presence in American capital markets just months after striking a historic deal to expand its retail operations in the country.

Citigroup is planning a 500-person hiring spree over the next three years for a new wealth division catering to junior employees at private equity offices, consultancies and accounting firms, betting those clients will someday join the ranks of the ultrawealthy. 

As the industry manages high turnover, more companies are expressing dissatisfaction. Among firms that switch to a new bank, the previous bank's lack of knowledge about their business is an increasingly common reason, according to a recent survey.

Citigroup is requiring some of its least-profitable trading clients to post more collateral and is even dropping some of them to help boost returns in its markets business.

A combination of higher organic loan growth and fee-based revenue streams powered top-performing banks in 2021.

The top 20 banks with assets of $2 billion to $10 billion outshined their peers in loan and revenue growth while maintaining pristine credit quality in 2021, according to a new ranking. Can they do the same this year as recession clouds gather?